KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
KUALA LUMPUR (Oct 17): The FBM KLCI gained 3.75 points or 0.22% today with Asian shares after US equities' overnight rise.
Reuters reported that US stocks surged more than 2 percent on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off.
It was reported that Asian equities got some welcome relief on Wednesday after upbeat US earnings reports drove a rebound on Wall Street and helped restore a little faith in emerging market stocks and currencies.
In China, the Shanghai Stock Exchange Composite climbed 0.6% while Hong Kong markets were closed today for the Chung Yeung Festival holiday.
In Malaysia, Areca Capital Sdn Bhd chief executive officer Danny Wong told theedgemarkets.com: “The US markets saw an overnight gain, which has lifted sentiment on the local market, especially after the recent sell down. Investors may also be doing some bargain hunting after the decline.”
Across Bursa Malaysia, 2.03 billion shares were traded for RM2.08 billion.
Top gainers include Carlsberg Brewery Malaysia Bhd, British American Tobacco (M) Bhd and Malaysian Pacific Industries Bhd.
Leading decliners included Hong Leong Bank Bhd, Hong Leong Financial Group Bhd and Westports Holdings Bhd.
Source: The Edge
Comments
Post a Comment